Home -› Scarcity

Online dictionary

Social Science Categories

Economics

BEA Economic Analysis Dictionary Environmental Economics Dictionary Dictionary of Political Economy

Education

Learning & Performance Dictionary Petersons Dictionary of Financial Aid Terms Fraternity Dictionary

History

Knighthood & Chivalry Dictionary Medieval Dictionary Castle Dictionary Dictionary of Genealogy

Political Science

Dictionary of National St&ards for Civics & Government Dictionary of Parliamentary Procedure Constitution of the Islamic Republic of Iran Civil Code of the Islamic Republic of Iran

Psychology

Dictionary of Phobia Dictionary of Parental Acceptance Rejection Theory

Sociology

Sociology Dictionary
Definition Of:

Scarcity

Bible DictionaryDictionary of Political Economy
A condition where there is less of something available than at least some people would like to have if they could have them at no cost to themselves. Note that this technical economic definition of "scarcity" differs greatly from the notion of scarcity as "unusual rarity" that predominates in most ordinary language. (For example, automobiles are not currently "scarce" in Los Angeles in the sense of being rare or unusual to see, but they are definitely "scarce" in the economic sense because many Angelenos would certainly take more of them if they were being given away for free.) Because the total quantity of goods and services that people would like to have always far exceeds the amount which available economic resources are capable of producing in all known human societies, people as individuals and/or as members of larger social units must constantly be making choices about which desires to satisfy first and which to leave less than fully satisfied for the time being. That is, they must constantly decide how best to allocate (apportion or distribute) the scarce resources available to them among the various alternative uses to which they can be put. Thus scarcity is the fundamental condition that gives rise to the patterns of choosing behavior whose study constitutes the main focus of the academic discipline of economics.

[See also: optimummarginal analysisallocationeconomics]


 

Social Science Dictionary INDEX:


List of Terms: Terms beginning with "A", Page 1

Starts With:  A B C D E F G H I J K L M N O P Q R S T U V W X Y Z 3
Page Number:  1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

A: Page 1 of 19.

AAGRA
AAR
ABOLFAZL SHADVAR
ABSOLUTE POVERTY
ACCRUED INTEREST
ACHIEVED STATUS
ACID RAIN
ACUTE DISEASE
ADAPTATION
ADJUSTED GROSS ...AERO
AFFIRMATIVE ACT...
AG
AGE GRADES
AGE STRUCTURE
AGEISM
AGENCIES OF SOC...AGRA
AGRARIAN SOCIET...AGRIBUSINESS
AIDS (Acquired ...
AIR POLLUTION
ALAA
ALIENATION
ANDROGYNY
ANIMISM
ANOMIA
ANOMIE
ANOMIE THEORY
ANTHROPOLOGY
APARTHEID
APEC
APG
APPROPRIATE TEC...ARMS RACE
ARMS TRADE
ARRANGED MARRIA...ASCRIBED STATUS
ASSET PROTECTIO...
ASSETS
ASSIMILATION
AUTHORITARIAN P...
AUTHORITY
AUTOCRATIC RULE
AUTOMATION
Abatement
Abbey
Abbot
Ability-to-Pay ...Ablutophobia
Absolute Advant...
Absolute advant...Abundance
Acarophobia
Accelerator
Acceptance
Acceptance-reje...
Accolade
Accoutrement
Acerophobia
Acheronophobia
Achluophobia
Acid Rain
Acousticophobia
Acquired Endowm...Acquittal
Acre
Acrophobia
Act of Parliame...
Acting Speaker
Active Alumni M...Adaptive Expect...
Additive
Address in Repl...Administrator o...
Admiral
Adoubement
Advance estimate
Adventurous Shi...Adverse Selecti...Aeroacrophobia
Aeronausiphobia
Aerophobia
Affection
Agency problem
Agency problem ...Agency problem ...
Aggregate Deman...Aggregate Expen...Aggregate Suppl...
Aggregate demand
Aggregate supply
Aggression
Agincourt, Batt...Agliophobia
Agoraphobia
Agraphobia
Agrizoophobia
Agyrophobia

Home   |   Contact Us   |   About Us   |  
Copyright © 2008 socialsciencedictionary.com. All rights reserved.